Real estate market recovering in many cities

Radar Logic, a real estate data and analysis company, reported an average rise of 2.1% from April to May in 22 of the 25 metropolitan statistical areas they track.

Here are the 10 metropolitan areas where prices increased the most from April to May of this year:

1. Milwaukee, Wis., 4.9 percent
2. Charlotte, 4.7 percent
3. Boston, 4.6 percent
4. Cleveland, 4 percent
5. Washington, D.C., 3.7 percent
6. St. Louis, 3.3 percent
7. Columbus, Ohio, 3.2 percent
8. Seattle, 2.8 percent
9. Denver, 2.3 percent
10. Philadelphia, 1.8 percent

What does this mean to us? Many of the cities that were hit first are beginning to bounce back and their markets are showing strong signs of recovery. As one the later cities to get hit, we are going to be behind places like Las Vegas and Washington D.C. The old adage, "by low, sell high," certainly applies here! We are still in the trough of the boom and bust cycle and now is the time to buy.